e-Commerce
Security For A Proper And Pleasant Shopping Experience
Overview:
Electronic commerce, commonly known as e-commerce, is the buying and selling of products and services over the Internet. With the expansion of the Internet as a popular shopping medium, e-commerce has extended the reach of businesses to a global scale. There is no longer such a thing as a truly “local business”, as businesses now have the ability to reach potential customers all over the world — an impossibility before the advent of the online storefront.
This virtual commercial space has revolutionized the way we shop. For the sake of convenience, online shoppers may now keep their private information on file, so that for future transactions, customers need not go through the time-consuming process of re-entering their shipping address, billing address, and credit card information. With such sensitive information on file, businesses in the e-commerce industry can become an easy target for hackers and fraudsters. But by simply implementing additional security measures, businesses can protect their online customers from credential theft.
Goal:
VASCO’s Strong Authentication solutions confirm that only the intended user has signed in and maintains a session throughout the entire online shopping process. This is achieved with the use of VASCO’s proprietary one-time password (OTP) technology from login to checkout.
Threats:
Now more than ever, e-commerce has become the target of phishing attacks. According to several sources, phishing targeted at specific groups (e.g. customers registered at an online retailer) can be very effective. Because phishing e-mails give the illusion of coming from a legitimate authority such as a customer service representative, recipients are tricked into disclosing confidential information, believing it is being given to an authorized source. Keylogger viruses and simple password theft are also common methods used by fraudsters to compromise data security online.
Approach:
By reinforcing e-commerce applications with DIGIPASS Strong Authentication, you are offering your customers a convenient and secure shopping experience. VASCO solutions can reside seamlessly within your e-commerce application by integrating the DIGIPASS API within it, along with the VASCO DIGIPASS for Web solution for your clients’ secure access.
Benefits
In the realm of e-commerce, the use of one-time passwords gives both businesses and individuals the assurance that their information is protected from theft. In addition, one-time passwords can promote advanced functionality: thanks to improved security, more robust and faster purchase methods can be supported.
Other benefits include:
- Security
Two-factor authentication prevents fraud, providing a secure shopping environment - Customer Confidence
Customers will feel more at ease shopping online on site where security has been enhanced - Customer Retention
Customers make recurring purchases when they can trust the merchant and the shopping experience. Improving security demonstrates your commitment to your customers’ well-being, making first-time customers more likely to turn into repeat customers. - Ease of Use
With stronger authentication, there is no need for customers to come up with confusing, complex passwords as a line of defense. Customers can feel free to set easy-to-remember passwords, eliminating frustration and making every shopping experience a pleasant one.